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Sunday, January 29, 2023

Nord Stream 1 supply to EU to be cut further


 Russian energy giant Gazprom announced that will once again drastically cut gas supplies to the EU through its main pipeline, Nord Stream 1,due to maintenance work, BBC reported on Tuesday.

Gazprom said stopping another turbine at the Nord Stream 1 pipeline would cut daily gas production to 20per cent, which will halve the current level of supply, which is likely to make it more difficult for EU countries to replenish their stores of gas before winter.

However, the German government said there was no technical reason to limit gas supply.

The Nord Stream 1 pipeline, which pumps gas from Russia to Germany, has been running well below capacity for weeks, and was completely shut down for a 10-day maintenance break earlier this month.

Russia supplied the EU with 40 per cent of its gas last year, and the EU has accused Russia of using energy as a weapon.

The European Commission has urged countries to cut gas use by 15 per cent over the next seven months after Russia warned it could curb or halt supplies altogether.

Under the proposals, the voluntary target could become mandatory in an emergency.

European Commission President, Ursula von der Leyen, has said the prospect of Russia cutting off all supplies to the EU is a “likely scenario”.

On Tuesday energy ministers will meet in Brussels in an attempt to sign off the plans, with numerous opt-outs expected amid resistance from some member states.

Wholesale gas prices have soared since Russia invaded Ukraine in February, with a knock-on impact on consumer energy bills.

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